SEMI Investment Act

This bill expands a tax credit for manufacturers by redefining "advanced manufacturing facility" to specifically include facilities producing semiconductors, semiconductor manufacturing equipment, or essential materials for those products. It directly affects semiconductor manufacturers and related suppliers by making them eligible for the expanded investment tax credit under the Internal Revenue Code. The key provision amends existing tax code language to clarify this scope, aligning with the CHIPS Act of 2022. The changes take effect as if they were part of the CHIPS Act.